November 30, 2017

Quartz: The Republican tax plan takes aim at one of the biggest engines of US growth

media mention

As Los Angeles Times Jim Puzzanghera pointed out recently, California is already one of a handful of states that pays more to the federal government than it receives. The Republican plan currently being debated in the Senate is likely to make this imbalance even larger. While most of the country can expect to benefit from paying $80 billion less in national income taxes under the proposed plan, an estimate from the left-leaning Institute on Taxation and Economic Policy finds that by 2027, Californians will pay $12 billion more. New York, New Jersey, and Maryland are also projected to pay more. Read more